U.S. steel exports dip in May

The United States exported 1.04 million net tons of steel in May, 4.1 percent below April exports and 10.9 percent less than the May 2013 level, according to the American Institute for International Steel.
U.S. steel exports had increased 3.8 percent in April and 15 percent in March. However, volumes to the United States’ two major steel trading partners — Canada and Mexico — were down slightly to 559,231 net tons and 363,325 net tons, respectively. A 75-percent drop in exports to the Dominican Republic — which had spiked in April — to 6,077 net tons accounted for two-fifths of the overall decline. Exports to the European Union fell nearly 19 percent to 28,387 net tons, the trade group said.
For the year, so far, U.S. steel exports are down 7.3 percent to 5,022,282 net tons.
However, AIIS noted that “with the U.S., Canada, Europe and the rest of the Northern Hemisphere now into the summer construction season, we are likely to see overall steel use increase, a trend that could push up both exports and imports.”